WHETHER FCR MUST BE SIGNED?

3 Comments

1. 

   Dream

   June 16, 2016 at 11:31 pm

   Dear Mr Old man

   Please help to clarify our concern as following:

   In case letter of credit only requires: invoice, packing list, forwarder carrier’s receipt/or any transport docs not under article 19-25

   1. How can we define the shipment is late shipment or not. Whether we can check against information indicated in required docs and compares with L/C terms and condition. It means that if the date of shipment indicated in invoice/packing list/forwarder cargo receipt is later than latest date of shipment–> whether it is consider the discrepancy: late shipment
   2. Which ways we check forwarder carrier’s receipt.

   We know that ISP98 already indicates forwarder carrier’s receipt is only checked to the extent expressly stated in the credit, otherwise according to UCP 600-14(F). We can interpret the instructions as the ways: if the lc indicate port of discharge is Chittagong, Bangladesh—>forwarder carrier’s receipt shows place of discharges is Chittagong, Bangladesh, it is discrepancy, although forwarder carrier’s receipt indicates goods shipped at the port stated in ‘place of receipt’

   Thanks for your help!

   Reply

• 

  mroldman

  June 18, 2016 at 9:28 am

  Hi,

  1. Documents like invoice, packing list, FCR… are not transport documents covered under UCP 600 articles 19-25, hence, the examination thereof is to be completed only to the extent expressly stated in the LC, otherwise in accordance with UCP 600 sub-article 14 (f).
  You cannot raise the discrepancy “late shipment” based on the information about the shipment date indicated on such documents.
  Not sure 100% but I think you can raise the discrepancy based on sub-article 14 (d), which says “Data in a document, when read in context with the credit, the document itself and international standard banking practice, need not be identical to, but must not conflict with, data in that document, any other stipulated document or the LC”. That is to say “the shipment date on invoice, packing list… conflicts with that stated in the LC.

  2. I think the described FCR is acceptable.

  Kind regards,
  Mr. Old Man

  Reply

2. 

   do do

   June 20, 2016 at 10:33 pm

   Dear Mr Old Man,
   I really need your kind help in the following case. Thank you so much .
   L/C stipulates the shipment period:
   + 300 MTS from 15/01/2016 to 15/02/2016
   +300 MTS from 01/02/2016 to 01/03/2016.
   +partial shipment allowed.
   +tolerance: +/-15% for both quantity and amount

   In the first presentation, docs shows that : 295 MTS shipped on 10/02/2016.

   Dear Mr Old Man, i would like to ask :
   what is the complied second presentation:
   1. in the second shipment, docs show : 5 MTS shipped on 14/02/2016
   2. in the second shipment, docs show: 300 MTS shipped on 14/02/2016
   3. in the second shipment, docs show: 100 MTS shipped on 20/02/2016

   Because the first and second period have the same period 01/02/2016 to 15/02/2016, it is very complicated. Please kindly help us in this case.

   Reply